If I say this is Bitcoin’s last big bull market

Do you agree?

As a market matures

Opportunities for excess profits will decrease

Expected returns will fall

$BTC has been going through a process of value discovery for more than ten years.

Since only a few people know its value

More and more people know

It wasn’t until spot ETFs were passed that they entered the investing public’s horizons.

Just start by

Then people can start to enter conveniently

Institutions, pension funds, etc. can begin to invest officially

Then maybe more and more countries will accept Bitcoin

It may even be set as part of foreign exchange reserves one day

Bitcoin spot ETF starts this positive spiral by

Let the value discovery of Bitcoin cease to be limited to the currency circle

Reaching out to the investing public

Then to large institutions and national governments

This process of value discovery can make Bitcoin soar

new high

then new high

This round of bull market is expected

But then what?

When Bitcoin has become an investment option for the public

Already in many people’s investment portfolios

It is already a mature market

Excess returns no longer exist

That’s not to say it won’t rise

But it will not rise sharply

No more exaggerated excess returns

Become a more daily financial commodity

This time Daniel started about last year

The cause is also the expectation of spot ETFs

This year continues

The reason is also the adoption of spot ETFs

Then maybe halving + interest rate cuts can continue

At the same time, more and more participants began to buy Bitcoin

Where can this round of value discovery take Bitcoin?

Anyway, it won’t be 70,000

But the point is

This may be Bitcoin’s last big bull run

Then it becomes a normal financial product

It becomes a mature market

Mad cow no more

So in the end the only important question is

So what should we do now?